TSE to host this year’s 15th IPO on Wednesday
Tehran stock Exchange will host the 15th initial public offering (IPO) since the beginning of the current Iranian calendar year (March 20) on Wednesday, Tasnim news agency reported.
As reported, Behsaz Kashaneh Company active in development projects will offer 4.026 billion shares in the secondary market of the TSE.
Last week, the head of Iran’s Securities and Exchange Organization (SEO) announced that the capital market has provided one quadrillion rials (about $23.809 billion) of financing during the first four months of the current Iranian calendar year (March 20-July 21).
“Until the previous week, we had just one IPO (initial public offering) on Wednesday every week, but in the previous week, two IPOs were held. The value of IPOs stood at 53 trillion rials (about $1.261 billion) in the previous [Iranian calendar] year, while the figure has been 137 trillion rials (about $3.261 billion) just in the first four months of the current year”, the SEO head announced on last Monday.
In a press conference in late June, Qalibaf-Asl had said that about 50 companies had already requested for IPO in Tehran Stock Exchange and about 100 companies had requested for IPO in Iran Fara Bourse (the country’s over-the-counter market), which were being investigated by the SEO.
It should be mentioned that in the current Iranian year, Iran’s stock market witnessed its largest-ever initial public offering, as Social Security Investment Company (SSIC, also known by its Persian acronym Shasta) offered eight billion shares, which account for 10 percent of its stakes, for sales in Tehran Stock Exchange on April 15.
Two weeks ago, Finance and Economic Affairs Minister Farhad Dejpasand announced that the value of trades in Iran’s stock market has risen 625 percent during the first four months of the current year, compared to the same period of time in the past year.
The minister also said that the value of four-month trades at this market has increased 145 percent since the beginning of the current year.
The official went on to say, “We try to save the liquidity attracted by the capital market and lead it toward production and development.”
source: TehranTimes
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
